The Your Move Reeds Rains and Acadata house price index shows house prices continued to grow in August – although at a slower rate than in previous months.
Annual growth on an annual basis fell to 4.3% from 5.3% in July, while August saw monthly growth of 0.1%.
Transaction levels present a mixed picture, with activity across England & Wales lower annually, but up 2.6% on July as prices and transactions continue to recover from the slump following the stamp duty rise.
Prices and the number of transactions carried on recovering from the stamp duty rise slump with prices up 2.6% from July. With around 78,000 property transactions in August, it is similar to levels seen in 2013.
It has been widely known that the growth in London has slowed, in the more expensive postcodes, other areas have seen impressive rises over the last 12 months. Lewisham saw increases of 18.7% compared to the overal London average of 4.6%.
“The new market data shows us once again that there is no single housing market but the sentiment, we believe, remains singularly positive – there is demand for affordable property and there are people who, bearing in mind the transaction volumes recorded, have the appetite to make a move.
“To maintain this momentum, however, it will be necessary for the government to provide continued support to consumers, housebuilders and the property industry as a whole and ultimately ensure that there are enough houses – and finance available – to help people realise their dreams of home ownership. Whether this will come when the Autumn Statement is announced is yet to be seen but no doubt many will hope it is yet again strongly positioned on the political agenda.” – Adrian Gill, Your Move and Reeds Rains director.
With demand still very high for housing stock and rates continuing to fall in the short term sector, now is still a great time to use bridging to help grow, or start, a business property portfolio.
